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Finance Act 1999
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Finance Act 1999, Section 120 is up to date with all changes known to be in force on or before 14 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
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120 Minor amendments of exceptions to general charge.U.K.
(1)Section 90 of the Finance Act 1986 (exceptions from the general charge to stamp duty reserve tax) is amended as follows.
(2)In subsection (3F)(c) (conditions of exception under subsection (3E)) for “securities which are not listed” substitute “ chargeable securities which are not listed ”.
(3)In subsection (5) for “by a person” substitute “ for the purposes of a business ”; and in subsection (6) for “A person is within this subsection if his business is exclusively” substitute “ A business is within this subsection if, or so far as, it consists of ”.
(4)Subsection (2) above applies to instruments issued on or after 9th March 1999.
(5)Subsection (3) above applies to agreements to transfer securities made on or after 9th March 1999.
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